Even if you really love your work and find your job satisfying, do you want to keep doing it until you’re in your 80s? Some people might, but I’m guessing not everyone wants to or will be healthy enough to. Yet, Robert Powell says in his On Retirement column today, many Americans just might have to do that — or something like it. He analyzes a recent study from the Employee Benefits Research Institute that says, among other cheery bits, that those of us who earn between $11,700 and $31,200 a year will need to work till age 76 to have just a 50% chance of covering basic expenses in retirement. Those who earn between $31,200 and $72,500 will need to work to age 72 to have a 50% chance of funding their retirement. Retirement advisers have the standard advice: Put effort into your career, live a healthy lifestyle and research your retirement and plan ahead. Oh, and keep working.

In another work-related story, Ruth Mantell reports on new legislation about to go into effect that will make Connecticut the first state with a paid-sick-leave law. Her column looks at the pros and cons from both the employee and employer viewpoint. Good. If we’re going to have to keep working until we are in our 80s, we probably will need paid sick leave.

The midnight ride of Jamie Dimon

Obama reportedly eyes Warren aide for CFPB job

It looks like long-time consumer favorite Elizabeth Warren may not be chosen to head a new consumer agency responsible in the wake of the financial crisis to regulate mortgages and other credit products. The White House is considering nominating Raj Date, a former banker with Capital One Financial Corp. to head the agency. Read more: Obama eyes Warren aide for CFPB job.

Housing recovery to be drawn out: Fed’s Yellen

The housing recovery will be a long, drawn-out process even as the economic recovery progresses because of the high share of distressed sales, the large inventory of vacant homes and tight mortgage credit, the number-two Federal Reserve official says. Read more: Housing recovery to be drawn out.

German E. coli outbreak takes toll on producers

Japan quake trims U.S. trade gap in April

The U.S. trade deficit narrows 6.7% in April to $43.7 billion as imports from Japan drop by record amounts after the earthquake ravages the economy. Annual revisions also surprise analysts, who were expecting a $48 billion trade gap. Read more: Japan quake trims U.S. trade gap.

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